posted
Looks like partial fill. They seem to be ekeing out the shares at 55 and waiting for someone to fill in between 60. They may need to just let them go and let the ask move on up to 60 and see what the biders do with that.
-------------------- I wrestled with reality for years, Doctor, and I'm happy to state, I finally won out over it.
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Just remember even if the PR comes out and it is in the hundred of thousands of dollars and not millions, this will still be huge as we have never had numbers like that before. In other words do not panic sell because you may think the numbers are low.
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RushNet Accepts New Deal...A private placement agreement has been signed FRIDAY, APRIL 28, 2006 1:01 PM - BusinessWire
RSHN 0.0055 +0.0003
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BLUE ISLAND, Ill., Apr 28, 2006 (BUSINESS WIRE) -- Robert Corr, President of RushNet, Inc. (Pink Sheets:RSHN) has agreed today to accept the offer made by Michael Lynch of Lynch Partners One, LLC to purchase a 30% stake in the company's stock in the form of restricted shares. This signed agreement gives RushNet, Inc. a cash infusion of $615 thousand plus an additional commitment for inventory capital of $2.4 million, for a total of over $3 million dollars to RushNet, Inc.
Robert Corr and the management team of RushNet Inc. will hold restricted shares totaling 32%, with the public free trading shares totaling 38% of the stock. The stock issued to Lynch has been placed into an escrow account with a closing scheduled in about two weeks.
As, Robert Corr stated: "This new round on capital will secure the company's need for inventory for all the new items planned for introduction this summer. Our larger retailers require firm inventory levels to be maintained at all times. As a company, we have gained a valuable partner who has expertise in raising large amounts of capital to assist us in our future expansion plans. I feel confident that, Michael Lynch and I have developed a strategic plan to grow RushNet's brands on a worldwide scope."
Michael Lynch and Robert Corr as mentioned in a previous press release, are in the process of purchasing a regional brewery that will use Rush Net Inc. to market the brands worldwide. The newly designed products will be introduced this summer and the new labels will be unveiled in the next few weeks to the stockholders.
Michael Lynch was quoted, "This will be the beginning of a highly visible beverage company, and I'm looking forward to launching some our branded beverages in the national beverage arena."
RushNet Inc. is the licensed marketing agent for Rush Beverage Company products and brand owner of e-water(TM). www.enjoytherush.com
-------------------- If they call it "tourist season"... then why can't we SHOOT 'em..?
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Hey, we all thought JoeMillion already owned a 30% stake in the company ;-)
Indytrader
-------------------- The views and opinions expressed here are solely those of Indytrader. Make your own decisions based on what's right for you and your money.
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Do not let the MM's fool you or any bashers... this is a good news release if you are long term in this stock. This is solid and I am sure there is more to come!!
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What's up with the resistance at .006 - the MM's sure are trying to hold this PR down.
Indytrader
-------------------- The views and opinions expressed here are solely those of Indytrader. Make your own decisions based on what's right for you and your money.
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Its going to take a while for all this to sink in. Looks to be good no great news. Not many watching this stock right now. As the day goes on, more will find out. Monday may once again be a great day as every one else finds out when they get home.
-------------------- I wrestled with reality for years, Doctor, and I'm happy to state, I finally won out over it.
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posted
Restricted shares shows you they believe there is a future for the stock. You cannot just sell them off and cause a panic so that is very good.
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